[Federal Register Volume 72, Number 68 (Tuesday, April 10, 2007)]
[Notices]
[Pages 17987-17988]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-6744]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 2, 2007.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
    Dates: Written comments should be received on or before May 10, 
2007 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0990.
    Type of Review: Revision.
    Title: Form 8610, Annual Low-Income Housing Credit Agencies Report, 
Schedule A (Form 8610), Carryover Allocation of Low-Income Housing 
Credit.
    Form: 8610.
    Description: State housing agencies file Form 8610 to transmit 
copies of Form 8609, Schedule(s) A (Form 8610), and binding agreements 
and election statements to the IRS. The Agencies use Schedule A (Form 
8610) to report certain information contained in carryover allocation 
documents to the IRS.
    Respondents: State, local, or tribal governments.
    Estimated Total Burden Hours: 5,599 hours.

    OMB Number: 1545-1714.
    Type of Review: Extension.
    Title: Tip Reporting Alternative Commitment (TRAC) for most 
industries.
    Description: Information is required by the Internal Revenue 
Service in its tax compliance efforts to assist employers and their 
employees in understanding and complying with section 6053(a), which 
requires employees to report all their tips monthly to their employers.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 4,877 hours.

    OMB Number: 1545-0004.
    Type of Review: Revision.
    Title: Determination of Worker Status for Purposes of Federal 
Employment Taxes and Income Tax Withholding.
    Form: 2587.
    Description: Form SS-8 is used by employers and workers to furnish 
information to IRS in order to obtain a determination as to whether a 
worker is an employee for purposes of Federal employment taxes and 
income tax withholding. IRS uses this information to make the 
determination.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 101,464 hours.

    OMB Number: 1545-1717.
    Type of Review: Extension.
    Title: Tip Rate Determination Agreement (TRDA) for Most Industries.
    Description: Information is required by the Internal Revenue 
Service in its tax compliance efforts to assist employers and their 
employees in understanding and complying with section 6053(a), which 
requires employees to report all their tips monthly to their employers.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,897 hours.

    OMB Number: 1545-1588.
    Type of Review: Extension.
    Title: REG-209682-94 (Final) Adjustments Following Sales of 
Partnership Interests.
    Description: Partnerships, with a section 754 election in effect, 
are required to adjust the basis of partnership property following 
certain transfers of partnership interests. The regulations require the 
partnership to attach a statement to its partnership return indicating 
the adjustment and how it was allocated among the partnership property.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 904,000 hours.

    OMB Number: 1545-1529.
    Type of Review: Extension.
    Title: Tip Reporting Alternative Commitment (Hairstyling Industry).
    Description: Information is required by the Internal Revenue 
Service in its compliance efforts to assist employers and their 
employees in understanding and complying with section 6053(a), which 
requires employees to report all their tips monthly to their employers.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 43,073 hours.

    OMB Number: 1545-0057.
    Type of Review: Extension.
    Title: Application for Recognition of Exemption Under Section 
501(a).
    Form: 1024.
    Description: Organizations seeking exemption from Federal income 
tax under Internal Revenue Code section 501(a) as an organization 
described in most paragraphs of section 501(c) must use Form 1024 to 
apply for exemption. The information collected is used to determine 
whether the organization qualifies for tax-exempt status.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 291,542 hours.

    OMB Number: 1545-1572.
    Type of Review: Extension.
    Title: REG-120200-97 (Final) Election Not to Apply Look-Back 
Methods in De Minimis Cases.
    Description: The regulations provides rules for electing the 
benefits of section 460(b)(6) regarding not applying look-back methods 
to long-term contracts in de minimis cases.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 4,000 hours.

    OMB Number: 1545-1870.
    Type of Review: Extension.
    Title: REG-125638-01 (Final) Guidance Regarding Deduction and 
Capitalization of Expenditures.
    Description: The information required to be retained by taxpayers 
will constitute sufficient documentation for purposes of substantiating 
a deduction. The information will be used by the agency on audit to 
determine the taxpayer's entitlement to a deduction. The respondents 
include taxpayers who engage in certain transactions involving the 
acquisition of a trade or business or an ownership interest in a legal 
entity.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 3,000 hours.

    OMB Number: 1545-2036.
    Type of Review: Extension.
    Title: Taxation and Reporting of REIT Excess Inclusion Income.
    Description: The notice requires certain REITs, partnerships and 
other entities that have excess inclusion income to disclose the amount 
and character of such income allocable to their record interest owners. 
The record interest owners need the information to properly report and 
pay taxes on such income.

[[Page 17988]]

    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 100 hours.

    OMB Number: 1545-0582.
    Type of Review: Revision.
    Title: Corporation Application for Tentative Refund.
    Form: 1139.
    Description: Form 1139 is filed by corporations that expect to have 
a net operating loss, net capital loss, or unused general business 
credits carried back to a prior tax year. IRS uses Form 1139 to 
determine if the amount of the loss or unused credits is proper.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 132,750 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. E7-6744 Filed 4-9-07; 8:45 am]
BILLING CODE 4830-01-P